How To Get Into NFT Trading

NFTs are called non-fungible tokens because the token in this case refers to the ones that are known from the cryptocurrency market. In the subject of non-fungible tokens, it refers to a digital process stored on a secure digital network.

Thus, NFTs are collectively crypto assets, publicly verifiable property that are secured with the blockchain. Platforms have established their own NFT methods based on their blockchain. Other blockchains are slowly following suit.

The Value Of NFTs

The value of an NFT is determined by supply and demand. Collector value and rarity value play an importance here. NFTs are rare and users are apparently willing to pay a lot of money for them. In this way, NFT owners can actually earn money with it.

Find Promising NFTs

The bored apes are among the established NFTs and are therefore not quite as speculative as very new plans or strategies about to be launched. If you want to track down current trends, you should find out more about communities, for example. There they talk about interesting NFTs with potential and possible stock movements. In addition, the exchange with like-minded people is so much easier and exciting investment opinions arise. On social media, you can find ongoing and new projects just as easily and up to date. Real insights are usually only available.

Focus On Artists

Foundation is primarily aimed at artists who do not want to get lost in the arbitrariness of large NFT selections on other NFT marketplaces. In order to be able to sell NFTs as an artist on Foundation, you must first be invited by a member of the community – this is an attempt to keep the race high. Foundation pays with ETH. For artists, however, there are hefty fees, they only receive 85 % of the sales price.

The Sandbox

If you really want to buy a virtual parcel in a 3D environment, then you are on the right place. The graphics there may not be impressive and have been outdated for years, but at least you get a little Metaverse feeling there. But in order to buy a parcel, you don’t have to enter the game at all, you can jump to the marketplace. There, the digital land is paid for in Ethereum. If you then want to buy virtual items for your parcel, you can also pay for them with MATIC.